Firstly, note you get both 16MB cache and 8Mb 7200.10 drives, both SATA and IDE. So I'm not quite sure what you mean by "ordinary" 7200 8Mb drives. Are you referring to the 7200.9/8/7 drives?
Secondly, I doubt you'll see a large real-world difference between the 8 and 16MB drives in general. Obviously, 16Mb is better than 8Mb, but not to the extent that it seriously matters.
Thirdly, as for SATA vs. IDE: SATA is newer than IDE, and the maximum transfer rate per channel is higher on SATA than on IDE. But, no current drive can sustain near to even what the IDE interface supports so the difference is moot. (The only time you'll actually be able to potentially measure a difference, is when the drive bursts the data from the drive's cache, when it should approach the maximum speed of the host interface. As you can imagine, that won't matter much in the real world as it will only take a split second to unload the 16Mb cache at 133/150/300Mb/sec and the real world difference between the 3 would actually be probably imperceptible.)
At the end of the day, if you can use SATA, then there's no reason not to buy a sata drive IMO. The cables are easier to manage, and the interface is faster and newer, even if not really noticeably so in practice. But, for single drive applications, IDE will be almost as good. As for the 8 vs 16Mb, again, get the better one if you can. Why wouldn't you?